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Information asymmetry and adverse wealth effects of crowdfunding
Firoozi, Fathali; Jalilvand, Abolhassan; Lien, … - In: The Journal of Entrepreneurial Finance (JEF) 18 (2016) 1, pp. 1-8
The Jumpstart Our Business Startups (JOBS) Act of 2012 in the U.S. expanded the capital markets so that entrepreneurs …
Persistent link: https://www.econbiz.de/10012012676
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Nothing Ventured - Nothing Gained? Empirical Evidence on Venture Capital Financing in Switzerland
Hopp, Christian - In: Swiss Journal of Economics and Statistics 143 (2007) 3, pp. 239-260
This paper analyses the Determinants of Venture Capital Staging and Syndication in Switzerland. I find that among the different affiliations of VC investors in Switzerland especially independent investors make more extensive use of staged capital infusions. Moreover, the results suggest that...
Persistent link: https://www.econbiz.de/10011933156
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Formal and informal equity funding in Chile
Amorós, José Ernesto; Atienza, Miguel; Romani, Gianni - In: Estudios de Economía 35 (2008) 2, pp. 179-194
gathered from the Global Entrepreneurship Monitor (GEM) surveys, the paper argues that despite the favorable environment …
Persistent link: https://www.econbiz.de/10010289371
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Der deutsche Venture-Capital-Markt – Investitionen und Rahmenbedingungen
Shafie, Seyer; Liedtke, Matthias; Asghari, Reza - In: Wirtschaftsdienst 101 (2021) 11, pp. 906-910
Innovative Start-ups sind aus mehreren Gründen durch ein hohes Risiko gekennzeichnet. Venture Capital (VC) ermöglicht es Start-ups, ihre Ideen zu Innovationen zu entwickeln und senkt das Risiko des Scheiterns. Diese Form der Finanzierung ist ein wesentlicher Bestandteil im globalen Wettbewerb....
Persistent link: https://www.econbiz.de/10012703449
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A Note on Venture Capital Networks: Promise and Performance
Brown, Donald J.; Stowe, Charles R. B. - In: Journal of Small Business Finance 1 (1991) 1, pp. 75-87
Since 1984 Informal Venture Networks (VCNs) have been formed and are currently operating in several states and Canada. However, little has been written in regard to the performance of these networks. This article presents the results of preliminary research concerning their performance. Our...
Persistent link: https://www.econbiz.de/10011310291
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Factors Affecting New Firm Success and Their Use in Venture Capital Financing
Bates, Timothy; Bradford, William D. - In: Journal of Small Business Finance 2 (1992) 1, pp. 23-38
entrepreneurs include high educational attainment, owners who lie in the middle of—as opposed to the tails of—the age distribution … capital and firm traits, the venture capital market also differentially restricts minority entrepreneurs from obtaining … venture capital. Thus public policy seeking to reduce the resulting financing gap for minority entrepreneurs may have economic …
Persistent link: https://www.econbiz.de/10011310308
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Agency Theory and Its Application to Small Firms: Evidence from the Swedish Venture Capital Market
Landstrom, Hans - In: Journal of Small Business Finance 2 (1993) 3, pp. 203-218
The research in small firms financing is characterized by a lack of a theoretical framework. One basic assumption in this study is that agency theory can provide an essential framework to explain the interaction between informal and formal venture capitalists and their portfolio firms. Five...
Persistent link: https://www.econbiz.de/10011310320
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Research Note: Venture Capitalists' Investment Criteria: A Replication
Fried, Vance H.; Hisrich, Robert D.; Polonchek, Amy - In: Journal of Small Business Finance 3 (1993) 1, pp. 37-42
This study replicates substantial portions of a study entitled “Criteria Used by Venture Capitalists to Evaluate New Ventures Proposals” by MacMillan, Siegal, and SubbaNarasimha. Results were similar to the earlier work. The differences observed can be attributed to history effects caused by...
Persistent link: https://www.econbiz.de/10011310326
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The Effect of Repeal of the Capital Gain Preference on Venture-Backed Companies
Hamill, James R.; Khurana, Inder - In: Journal of Small Business Finance 3 (1994) 2, pp. 97-109
The 1986 Tax Reform Act eliminated preferential tax treatment of capital gains. Proposals to reinstate the preference suggest that risky new investment will suffer without favorable treatment of investment returns. Others have argued that capital for risky new ventures is largely supplied by...
Persistent link: https://www.econbiz.de/10011310330
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The Performance of Publicly Traded European Venture Capital Companies
Manigart, Sophie; Joos, Peter; Vos, Donaat De - In: Journal of Small Business Finance 3 (1994) 2, pp. 111-125
The stock market return and the risk of 33 quoted European venture capital companies during the period 1977-1991 are studied. The return is negative on average with eight of the 33 companies having a return that is higher than the market return. However, the systematic risk (measured by the beta...
Persistent link: https://www.econbiz.de/10011310331